Reading the books.
Position, result and cash flow for Blushell Marine, with the prior year beside every figure and the balance check on screen rather than assumed.
Blushell Marine · AED · read from Zoho Books
Read from Zoho Books. Every figure on this screen opens its own workings, down to the vouchers behind it.
20 reads were made for this screen and every one answered.
Statements are drawn one company at a time, chosen in the bar above. The group keeps its books in four currencies and there is no translation view, so no figure on this screen is added to a figure from another company — and there is no consolidated column for the same reason.
Aug 2026 against Aug 2025, Blushell Marine, in AED. Read from the monthly summary, which is the same source as the statements below.
Twelve months to Aug 2026 beneath each figure.
The monthly summary of Blushell Marine, Aug 2026, read from Zoho Books. The same figures as the statements below.
Five figures, in the order an accountant reads them, then the cash: revenue, expenses, gross profit, EBITDA and profit before tax. Adding operating expenses and finance cost would make it eight and turn the strip into the statement beneath it.
Aug 2026 is still open at Blushell Marine: no lock is held for it, so these statements can still move.
Against the month before — the last month each figure was posted in — rather than the same month a year earlier, which is the movement on the tile.
| Line item | Apr '26 | May '26 | Jun '26 | Jul '26 | Aug '26 | FY to dateAED | Prior FYAED | Δ% |
|---|---|---|---|---|---|---|---|---|
| REVENUE | ||||||||
| 4600Revenue — seafood, CIF | −22.8% | |||||||
| 4610Revenue — seafood, FOB | +10.7% | |||||||
| Total revenue | −14.7% | |||||||
| COST OF SALES | ||||||||
| 5100Cost of goods sold | −14.7% | |||||||
| 5110Customs duty and clearing | −14.7% | |||||||
| 5120Freight and insurance — inward | −14.7% | |||||||
| 5130Freight and insurance — outward | 0.0% | |||||||
| 5140Cold storage and handling | 0.0% | |||||||
| 5160Inventory write-down | −4.7% | |||||||
| Total cost of sales | −13.8% | |||||||
| Gross profit | −18.1% | |||||||
| OPERATING EXPENSES | ||||||||
| 6100Staff cost | 0.0% | |||||||
| 6600Bank charges | 0.0% | |||||||
| 6200Rent and premises | 0.0% | |||||||
| 6500Professional fees | 0.0% | |||||||
| Total operating expenses | 0.0% | |||||||
| EBITDA | −21.2% | |||||||
| 6700Depreciation and amortisation | 0.0% | |||||||
| Operating profit | −23.0% | |||||||
| 6800Finance cost | 0.0% | |||||||
| Profit before tax | −24.9% | |||||||
For the month ended Aug 2026 · AED
For the month, with the same month a year earlier beside every figure.
The income accounts, FY 2026-27. Every account of the result, with the code the books keep it under. Income is stated positive and cost negative, so each subtotal is an addition — gross profit is revenue plus cost of sales. Expense lines are ordered largest first within their block. Every figure opens: a month opens its documents, the year to date opens its months, and a subtotal opens the accounts or the subtotals it adds.
The accounts rather than the captions, every month of FY 2026-27 as its own column, so a caption can be checked against the ledger it came from. The chooser offers every month the group has posted in; a company that has closed earlier shows nothing here rather than the month before.
This company reports in one segment: the group is organised by pillar and a company belongs to exactly one.
Everything above is the seafood pillar. Blushell Marine is the only company of the group in it. There is no other company to add it to, so the segment result is the company result.
The group register. The pillar each company is recorded under.
Each is a control that ran against this period. Nothing here is written commentary.
Ranked adverse first, then watch, then the tests that came back clean; within a class by the finding’s figure as a share of the company’s revenue for the period, largest first. A balance sheet that does not tie, or a company no rate is held for, outranks any share.
One company, so every share is of Blushell Marine’s own revenue for Aug 2026, in AED.
Tested: the balance sheet at 31 Aug 2026; the cash flow’s closing cash against the balance sheet; Aug 2026 for a loss before tax; the comparative a year earlier; whether Aug 2026 is closed; the books and records of the Indian companies under Rule 3; the receivable ageing’s share over ninety days.
Rule 3 found two things on the books and records panel, which carries them: Sixteen Frames Live keeps books in software with the audit trail switched off. Under Rule 3 of the Companies (Accounts) Rules 2014 that is an audit qualification waiting to happen, not a configuration detail. Sixteen Frames Live (27 days) has a backup host in India but no backup within the last day. Rule 3 asks for a daily one, so a host with a stale backup is not compliance.
Six rows at most, in two columns, adverse first: what needs acting on before what needs watching, and a clear row only where a test ran and found nothing. The rest is under Data quality at the foot of the screen, so the face never grows past what a reader can act on in a glance.
Period still open · Blushell Marine · no lock held for Aug 2026. Aug 2026 is still open at Blushell Marine: no lock is held for it, so these statements can still move.
Of every 100 in revenue, 16 survives to profit before tax
AED million, for Aug 2026. Each bar is the movement between the two totals either side of it.
The monthly summary of Blushell Marine, Aug 2026, read from Zoho Books. The same figures as the statement above.
The bridge from revenue to profit. The single most useful picture on this screen for an accountant: it says where the money went, in the order it went.
The totals — revenue, gross profit, EBITDA and profit before tax — each open their own workings. The bars between them do not: each is the movement between the two totals either side of it, so a bar that opened a single caption would show something other than what it draws. The captions are in the statement above.
The owners have funded 58 per cent of what the company owns
AED at Aug 2026. Assets on the left, claims on the right.
The balance sheet of Blushell Marine, Aug 2026. The period result is carried into equity as its own caption.
Two bars rather than a ring: a balance sheet is two sides that come to the same height, and the reading is how the right-hand side divides between what is owed and what is owned. Each side opens the first caption of its kind on the statement below, where every caption expands to its accounts.
Assets 93,028,248; liabilities 39,316,688; equity 53,711,560 AED, as the balance sheet view states them and the drawing stacks them. The two sides come to the same height where the control ties.
Operating cash came in ahead of profit this month
AED million, Aug 2026. From the result to the cash the operations threw off, one working-capital movement at a time.
The cash flow, indirect method of Blushell Marine, Aug 2026, read from Zoho Books. The result for the month, adjusted for depreciation and for the movement in each working-capital caption.
The indirect method as a picture: profit, plus depreciation, plus the movement in receivables, inventory and payables, is cash from operations. Every bar opens the line of the cash flow view it draws, and the total opens the five that make it.
The statement of cash flows beneath is built from the two positions rather than read from this view, so the two are one movement reached two ways; where they disagree, the statement’s drawer says by how much.
Profit is up on the year, and revenue moved it in favour
AED, Aug 2026 against Aug 2025. From last year’s profit before tax to this year’s in five steps: revenue, cost of sales, overhead, and everything else between EBITDA and profit.
The monthly summary of Blushell Marine, Aug 2025 and Aug 2026, read from Zoho Books. Both periods.
Five steps from last year’s profit to this year’s is the reading a chartered accountant makes first, and it has a box of its own rather than a drawer. The two profits open their workings; each step between them opens the comparison itself — the two years’ figures for that line, and their difference as the bar draws it — so a click shows exactly what the bar drew and where each side came from.
FY 2026-27 month by month, AED. A bar a month, a loss in the signal ink below the baseline, the year to date in the foot.
The monthly summary of Blushell Marine, FY 2026-27 to date, read from Zoho Books. Profit before tax at each month end.
Bars rather than a line: twelve results are twelve figures, each of which opens its month, and a month at a loss is read off a bar below the baseline at a glance. No new read — the summary already holds the year for the strip.
| Line item | 31 Aug 2026AED | 31 Mar 2026AED | Translated · AED | Δ vs PY% |
|---|---|---|---|---|
| ASSETS — CURRENT | ||||
| 1110Bank — current accounts | 20,092,640 | +12.0% | ||
| 1210Trade receivables | 32,295,450 | +0.7% | ||
| 1320Inventory provision | (4,763,627) | +18.9% | ||
| 1330Inventory — seafood | 35,095,784 | +17.0% | ||
| Total current assets | 82,720,248 | 75,996,764 | 82,720,248 | +8.8% |
| ASSETS — NON-CURRENT | ||||
| 1510Property, plant and equipment | 10,308,000 | −6.7% | ||
| Total non-current assets | 10,308,000 | 11,048,000 | 10,308,000 | −6.7% |
| Total assets | 93,028,248 | 87,044,764 | 93,028,248 | +6.9% |
| LIABILITIES — CURRENT | ||||
| 2110Trade payables | 13,816,688 | −0.5% | ||
| Total current liabilities | 13,816,688 | 13,882,055 | 13,816,688 | −0.5% |
| LIABILITIES — NON-CURRENT | ||||
| 2220Trade finance — letters of credit | 22,400,000 | 0.0% | ||
| 2230Bank overdraft and working capital | 3,100,000 | 0.0% | ||
| Total non-current liabilities | 25,500,000 | 25,500,000 | 25,500,000 | 0.0% |
| Total liabilities | 39,316,688 | 39,382,055 | 39,316,688 | −0.2% |
| EQUITY | ||||
| 3100Share capital | 5,000,000 | 0.0% | ||
| 3200Retained earnings | 11,200,000 | 0.0% | ||
| 3300Profit for the period | 37,511,560 | +19.2% | ||
| Total equity | 53,711,560 | 47,662,708 | 53,711,560 | +12.7% |
| Total liabilities and equity | 93,028,248 | 87,044,764 | 93,028,248 | +6.9% |
As at Aug 2026 · AED
Every caption expands to its accounts, and every account opens the documents behind it.
Blushell Marine balances at Aug 2026. The balance sheet balances only because the period result is carried into equity as its own caption. Every company-month the control covers balances.
The balance sheet, as at 31 Aug 2026. Balances at the close of the date stated. A liability is a credit in the ledger and a positive figure under Liabilities here, which is how a statement states one and how the balance sheet view states it; each figure opens a panel saying both. The translated column is stated at 1 AED to the AED, the closing rate held at 31 Aug 2026. A balance takes the close at its date; earnings take the average for the period, which is a different rate and a different column. The comparative is the last audited year end rather than the same month a year earlier: a position is compared to a date somebody closed at.
The balance sheet control, as at Aug 2026. An exceptions view: a row is a company-month that does not tie, and a group that balances returns nothing at all.
The control before the statement it controls. A control that holds is context and recedes; a control that has failed is the most important thing on the screen, because every figure here is drawn from balances that do not tie; a control whose read did not answer leads for its own reason — the statement is unverified, which is worse than a known failure and not the same thing.
Nothing is drawn from a partial position: a balance sheet missing a side does not balance and would say so falsely.
Each is a control that ran against this period. Nothing here is written commentary.
| Line item | FY to dateAED | Prior FYAED | Translated · AED |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Profit before tax | 8,055,342 | 6,048,852 | |
| Depreciation and amortisation | 3,552,000 | 740,000 | |
| Finance cost charged | 3,168,000 | 660,000 | |
| Operating profit before working capital | 7,448,852 | 14,775,342 | 7,448,852 |
| Movement in trade and other receivables | (1,810,400) | (216,645) | |
| Movement in inventories | (12,136,714) | (4,350,357) | |
| Movement in prepayments and other current assets | 0 | 0 | |
| Movement in trade and other payables | (772,359) | 65,368 | |
| Movement in provisions | 0 | 0 | |
| Cash generated from operations | 2,947,218 | 55,869 | 2,947,218 |
| Interest paid | (660,000) | (660,000) | |
| Tax paid | 0 | 0 | |
| Net cash from operating activities | 2,287,218 | (604,131) | 2,287,218 |
| INVESTING ACTIVITIES | |||
| Purchase of property, plant and equipment | 1,776,000 | 740,000 | |
| Net cash from investing activities | 740,000 | 1,776,000 | 740,000 |
| FINANCING ACTIVITIES | |||
| Movement in borrowings | 0 | 0 | |
| Capital introduced | 0 | 0 | |
| Net cash from financing activities | 0 | 0 | 0 |
| Net movement in cash | 3,027,218 | 1,171,869 | 3,027,218 |
| Cash at 31 Mar 2026 | 17,936,158 | 15,525,926 | 17,936,158 |
| Cash at 31 Aug 2026 | 17,936,158 | 20,092,640 | |
Aug 2026 · indirect · AED
Built by the indirect method from the two positions and the result between them: every working-capital line is the difference between the two balance sheet columns and opens both.
The balance sheet, 31 Mar 2026 to 31 Aug 2026. Built by the indirect method from the two positions and the result between them. Every working-capital line is the difference between the two balance sheet columns and opens both. Opening cash plus the movement comes to 20,963,376 against closing cash of 20,092,640, a difference of (870,736). That difference is not reconciled here and is not hidden: it is what the two routes to the same figure disagree by, and one of them is wrong until it is settled. Interest and tax paid are the charge for the period taken with the movement in what is owed, which is as close as an indirect statement gets without a cash-account analysis. There is no effect of exchange rate changes on cash: these books are kept in one currency. The translated column takes the average rate for the period, 1 AED to the AED — a movement is earned across a period, not held at a date.
No second derivation of the same movement. A month-by-month schedule read from the cash flow view would be a second answer to one question, with nothing on the screen to say which to believe; the statement is the one that opens both balance sheets on every line, so the statement stays.
The cash flow’s closing balance and the balance sheet’s cash line are the same fact reached two ways. The difference is computed and shown whatever it comes to — nil included — because a reader cannot otherwise tell “they agree” from “nobody looked”.
Each is a control that ran against this period. Nothing here is written commentary.
| Class | Assets | CostAED | Depreciation to dateAED | Net book valueAED |
|---|---|---|---|---|
| fixtures | 1 | |||
| plant | 2 | |||
| vehicles | 1 |
AED
The register holds no accumulated depreciation: each asset is depreciated here on its own cost, residual, life and method.
Straight line only, over cost less residual, to Aug 2026. An asset the register says is depreciated any other way is counted at cost with the method named rather than depreciated on a straight line — a wrong figure computed from real inputs looks exactly like a right one. The figure in each column opens the first asset of that class; every asset is listed under Detail.
The fixed asset register of Blushell Marine, as at 31 Aug 2026.
A note to the position: the fixed assets caption is one figure standing for a register of assets of different ages and methods, and the note is what reconciles it. By class on the face, asset by asset under Detail.
| Code | Class | Acquired | CostAED | Net book valueAED | State |
|---|---|---|---|---|---|
| FA-604 | fixtures | 2023-03-01 | held | ||
| FA-601 | plant | 2023-03-01 | held | ||
| FA-602 | plant | 2023-03-01 | held | ||
| FA-603 | vehicles | 2024-05-15 | held |
| Counterparty | TotalAED | To 30 days | 31 to 60 | 61 to 90 | 91 to 180 | Over 180 |
|---|---|---|---|---|---|---|
| Alexandria Frozen Foods | — | 509,796 | 1,520,078 | (1,354,920) | 2,169,668 | |
| Muscat Provisions LLC | — | 1,991,000 | 528,900 | (1,550,044) | 1,550,044 | |
| Mariscos del Sur SL — Vigo | — | (370,196) | 863,400 | 100,462 | 1,739,352 | |
| Noordzee Import BV — Rotterdam | — | (350,256) | 1,159,044 | 301,336 | 439,130 | |
| Mombasa Provisions Ltd | — | (60,204) | (119,426) | 233,368 | 1,341,312 | |
| Marée Atlantique SAS — Rungis | — | (728,422) | (1,558,284) | 958,544 | 2,422,352 | |
| Jeddah Seafood Distribution | — | (39,736) | (680,552) | 876,100 | 664,448 | |
| Dar Seafood Wholesalers | — | 560,478 | (1,313,604) | 735,856 | 577,748 | |
| Doha Marine Supplies | — | (591,102) | 1,074,082 | (1,771,738) | 1,771,738 | |
| Riyadh Cold Chain Co | — | — | 295,698 | — | — | |
| Total, 10 counterparties | 13,895,450 | — | 921,358 | 1,769,336 | (1,471,036) | 12,675,792 |
AED
How long each balance behind the receivables caption has been outstanding, counterparty by counterparty. The bands are measured from the date each posting was made.
The receivable ageing of Blushell Marine, as at 31 Aug 2026. 80.6% of the balance is more than 90 days old. The bands run from the date of each posting, not from a due date — the ledger holds when a balance arose and the counterparty’s terms are held against the counterparty, so an age here is not the same thing as an amount past due.
The note behind the receivables caption, which is one figure standing for a set of balances of very different quality — a month old and a year old are the same number on the balance sheet and are not the same asset.
The 12 largest balances are on the face and the rest are under Detail, so the note reads as a note rather than a register; the total on the face is the total of every counterparty.
ten counterparties; 13,895,450 AED outstanding in all, of which 11,204,756 is in the two bands over 90 days. 80.6% of the balance is more than 90 days old.
By band: to 30 days 0, 31 to 60 921,358, 61 to 90 1,769,336, 91 to 180 (1,471,036), over 180 12,675,792.
| Company | Audit trail | Daily backup in India | Last backup |
|---|---|---|---|
| Sixteen Frames Films | on | arkan-backup-mum.internal | -4 days ago |
| Sixteen Frames Music | on | arkan-backup-mum.internal | -4 days ago |
| Sixteen Frames Live | disabled | arkan-backup-mum.internal, stale | 27 days ago |
Section 128
What the annual filing to the Registrar is produced from, for the Indian companies accounted from Dubai.
Sixteen Frames Live keeps books in software with the audit trail switched off. Under Rule 3 of the Companies (Accounts) Rules 2014 that is an audit qualification waiting to happen, not a configuration detail. Sixteen Frames Live (27 days) has a backup host in India but no backup within the last day. Rule 3 asks for a daily one, so a host with a stale backup is not compliance.
Read as a finding rather than a checklist. Books kept electronically outside India must remain accessible in India at all times, a daily backup must sit on a server physically in India, and the accounting software must keep an audit trail that cannot be disabled. The Registrar is told annually who the service provider is, its address and location, and where the provider is outside India, the person in control of the books in India.
The India data-residency register, as at 31 Aug 2026.
This register exists so the annual filing can be produced from the system rather than reconstructed — the second proviso to Section 128 of the Companies Act 2013 and Rule 3 of the Companies (Accounts) Rules 2014, for four Indian companies accounted from Dubai. It is surfaced with the statements because that is where an auditor looks for it.
| Required by Rule 3 | Sixteen Frames Films | Sixteen Frames Music | Sixteen Frames Live |
|---|---|---|---|
| Service provider | Supabase (Mumbai ap-south-1) | Supabase (Mumbai ap-south-1) | Supabase (Mumbai ap-south-1) |
| Provider IP address | not held | not held | not held |
| Provider location | Mumbai, India | Mumbai, India | Mumbai, India |
| Address the books are kept at | not held | not held | not held |
| Person in control of the books in India | R. Menon | R. Menon | R. Menon |
| That person’s address | Kochi, Kerala | Kochi, Kerala | Kochi, Kerala |
Every register holds what the annual filing needs, so the filing can be produced from this system rather than reconstructed.
0 action · 1 watch · 3 clear.
One company, so every share is of Blushell Marine’s own revenue for Aug 2026, in AED.
Read from Zoho Books. 20 reads were made for this screen and 20 answered. Every figure on this screen opens its own workings, down to the vouchers behind it.
Tested: the balance sheet at 31 Aug 2026; the cash flow’s closing cash against the balance sheet; Aug 2026 for a loss before tax; the comparative a year earlier; whether Aug 2026 is closed; the books and records of the Indian companies under Rule 3; the receivable ageing’s share over ninety days.
Rule 3 found two things on the books and records panel, which carries them: Sixteen Frames Live keeps books in software with the audit trail switched off. Under Rule 3 of the Companies (Accounts) Rules 2014 that is an audit qualification waiting to happen, not a configuration detail. Sixteen Frames Live (27 days) has a backup host in India but no backup within the last day. Rule 3 asks for a daily one, so a host with a stale backup is not compliance.
Period still open · Blushell Marine · no lock held for Aug 2026. Aug 2026 is still open at Blushell Marine: no lock is held for it, so these statements can still move.